I have invested in many oz of gold and silver and I will like to continue that. But what about copper? I am not joking. It is only $3 an oz because people don't seem to want to give it a try? Will copper climb is it at least worth a try?
yes it goes up but at a slower pace than the rest of the metals
Copper is an industrial metal. Its value is determined by supply and demand. If the demand increases faster than the supply, then the price will go up (ignoring the effects of speculation). To find your answer, you need to investigate the changes in future demand for copper compared to changes in future supply. Recently, it has been up and down because predictions of demand have gone up and down.
Current copper spot price, (US Market), is $3.8672/lb, not an ounce. Like all base metals it goes up and down in value depending on projected needs. Last year it hit just over $4.50 a pound. As you can see it's dropped in value considerably. China was expected to import far more than they actually did and lots of people lost money. Like most other things it's a gamble. There are a lot of people who were, and still are, touting copper as the next silver. These are people who are trying to sell you copper of course. They try to tell you that the economy is so bad it will fail soon and that copper will be a great investment for that. It's a lie. Other than industry and jewelery copper has no real use. If the economy does fail who are you going to sell your copper to? Industry will be down the drain and no one will bother with jewelery.
